PhilGoetz comments on Easy wins aren't news - Less Wrong
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Comments (19)
Maybe not, but notice that it also makes it easier for those investment bankers to find more possible investments, maybe evaluate them more accurately, and buy them with less overhead. These are replacing systems where you used to have to be physically present to bid.
I think the result should be a net gain to society, as is generally the case when you make markets more efficient.
Taking power away from the most powerful actors is often good a net gain for society. That doesn't make it a "easy win".
Matt Taibbi writing about the municipal bond market is worth reading:
That article is not about the municipal bond market. It is certainly not about the interest rate on municipal bonds. It's true that the quote says so, but the rest of the article says not.
But that collusion becomes impractical and then impossible as the process becomes more and more transparent. This is helping that problem.
Yes, that's why there a lot of money invested in keeping the process intransparent and making it more transparent isn't easy.